Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
a) The Shares of the Trust are listed in the accompanying table. The date the Shares of the Trust began trading, their symbols and their primary listing exchange are indicated below:
Trust
Commencement of Operations
Ticker Symbol
Name of each exchange on which registered
Fidelity Wise Origin Bitcoin Fund
January 11, 2024
FBTC
Cboe BZX Exchange, Inc.
As of March 10, 2025, there were two DTC participating shareholders of record of the Trust. Because most of the Trust’s Shares are held by brokers and other institutions on behalf of shareholders, we are unable to estimate the total number of shareholders represented by these record holders.
The Trust made no distributions to Shareholders during the year ended December 31, 2024. The Trust has no obligation to make periodic distributions to Shareholders.
On January 9, 2024, the Trust sold 500,000 Shares to FMR Capital, Inc., an affiliate of the Sponsor, for $40 per Share in a transaction exempt from registration under Section 4(a)(2) of the 1933 Act. Proceeds from such sale were used to purchase bitcoin.
On December 6, 2024, pursuant to an Asset Purchase and Contribution Agreement, the Trust purchased all of the bitcoin assets of the Wise Origin Bitcoin Index Fund I, L.P, a Delaware limited partnership managed by the Sponsor, in exchange for 1,453,476 Shares of the Trust with a value of $129,377,662. The transaction was exempt from registration under Section 4(a)(2) of the 1933 Act.
b) Not applicable.
c) The Trust does not purchase Shares directly from its shareholders. The following table summarizes the redemptions by Authorized Participants during the three months ended December 31, 2024:
Title of Securities Registered*
Date
Total Number of Shares Redeemed
Average Price
Per Share
Fidelity® Wise Origin® Bitcoin Fund
Shares
10/01/2024 to 10/31/2024
6,250,000
$
55.23
11/01/2024 to 11/30/2024
12,200,000
$
72.25
12/01/2024 to 12/31/2024
12,250,000
$
84.35
* The registration statement covers an indeterminate amount of securities to be offered or sold.
Item 6. [Reserved]
21
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.